5 Keys For Driving Growth Through Innovation

Many companies struggle with the concept of innovation–what it means to them and how exactly it contributes to the growth of their business. It stands to reason that the primary factor behind this uncertainty is that these organizations do not understand the key variables that affect organic growth via innovation.

Fortunately, enough experiential data is now available to draw viable conclusions about how to accelerate growth through innovation, as well as how to mitigate the risk associated with unstructured innovation. This data can be distilled into five key variables for successful innovation.

Key #1: A Climate for Innovation

One way to mitigate the challenges of innovation is by establishing a climate suited for innovation; in other words, an organizational culture that rewards calculated risk-taking, collaboration and trust. Such a climate enables employees to learn from their mistakes instead of being punished for them. It also supports quicker execution of ideas and a more agile organizational structure, all of which minimize exposure from innovation risk.

Key #2: A Balanced Innovation Portfolio

Innovation-elite firms understand that achieving uncommon industry growth rates means going beyond the traditional research and development focus. Companies that manage to grow through innovation typically develop a balanced innovation portfolio that spans many areas–products and services, processes, strategy, even the core business model. These companies also vary the required degree of innovation, from incremental to significant to breakthrough levels.

Organizations that deploy innovation in this way almost always generate higher return on investment than companies that limit innovation to new products. Also, companies that innovate simultaneously in multiple areas reap more rewards than those that innovate in a single area.

The Apple Corporation, for instance, has experienced tremendous success with the iPod, a product innovation. However, the success of the iPod is largely due to the introduction of iTunes, a business model innovation. Through this combination of product and business model innovation, Apple created $ 70 billion in shareholder value in just three years.

Key #3: Collaborative Teams

The third key to innovation success is to assemble innovation teams that are capable of flawless and speedy execution, and then manage these teams for high performance and collaboration. This is easier said than done. To begin with, the best teams will be composed of people with diverse problem-solving styles. That is, some will excel at seeing the “big picture” while others revel in the details, and still others operate best in between.

In addition to a well-managed balance of problem-solving styles, effective teams must have a cognitive level (i.e., knowledge) and motivation level appropriate to the innovation problem they are trying to solve. Companies that do well in this area typically adopt any number of organizational and interpersonal assessments, inventories and management approaches to determine the capabilities of their employees (e.g., Myers-Briggs, DiSC, Kirton Adaption-Innovation theory, etc.).

Key #4: A Systematic Process

The fourth critical variable is to make innovation repeatable, predictable and scalable. This means making it systematic using a consistent process, or methodology, that is applied by all teams. The process must also be robust enough to accommodate multiple innovation pathways because, while some growth projects require “thinking outside of the box,” others require more structure within existing paradigms. There are various methodologies available; the important thing is to choose one that is structured enough to produce results, yet approachable and flexible so that everyone in the organization can adopt it to the necessary degree.

Key #5: Proven Techniques and Tools

The tools most often associated with innovation are creative techniques, such as brainstorming. Yet, the most successful innovations strike at the heart of what customers want and need. Uncovering unmet customer expectations, especially latent ones, requires the application of any number of research techniques from surveys to ethnography.

Whatsmore, there exists a bevy of powerful idea generating tools, such as Random Entry, Provocation and Movement and others that go beyond simple brainstorming to generate outside truly unique and innovative solutions.

Once the ideas are generated, there are several techniques that enable the objective analysis of competing ideas so the best one is chosen. Designing and piloting the subsequent solutions requires yet a different set of tools, many familiar to those in the process improvement arena.

The point being, organizations that succeed at innovation understand that innovation is a process, and they provide the tools needed to navigate the process from end-to-end: from defining the problem, to discovering the solution, to designing and demonstrating the result.

Breakthrough Management Group International (BMGI) helps organizations around the world systematically improve processes and increase innovation. For more about BMGI’s corporate onsite services, visit www.bmgi.com. For open enrollment training, visit www.bmguniversity.com.

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3 Keys to Internet Marketing and List Building Secrets.

Internet marketing simply put are techniques that draw people to your site and gets you on the money train. There is a lot to internet marketing than just having a product.You have to be able to promote your products and in many different ways.

Internet marketing definately takes getting used to and requires careful preparation as well as time and effort. However, with that being said the payouts can be incredibly high with the hope that you will soon be able to quit your day job, unless you don’t want to. The key to successful marketing is knowledge. Even more specifically the knowledge to build a list. Knowledge will maximize your Internet business opportunities and put you way above your competition. Okay, so now let’s talk about your product.

Hooray, you joined the millions of people online who are looking to get rid of their cheap paying jobs, now what? well, you need a product to sell. Now you can either create this product or take the easy way out and sell another man’s goods. Either way works just fine.

The goal is to find a good product that sells like cotton candy. Successful affiliate internet marketing is almost impossible to achieve without finding the right product. Designated trademarks and brands are the property of their respective owners. Also, keep in mind that when looking for a product search for one that you would be willing to spend your money on. Now let’s talk traffic and Listbuilding.

Great, we have the product that we want to sell, now what? In order to be successful online visitors have to be able to find you on the Internet. Success as an entrepreneur is about being passionate, giving wholly of yourself, busting your butt, falling flat on your face and getting right back up to do it all over again. However,you get to dance in the thrill of complete and total victory at the end of it all.

Remind me to go into later detail about list building later on. Alright, so we are ready to bring some traffic and make some sales.

Traffic Exchanges – (easiest way to get traffic)

YouTube- (you don’t have to be camera shy)

Safelists – these do work if used correctly

Article submissions- (man, these are HOT!)

And much much more?

Be creative and you just might invent your own unique way which others would pay you BIG BUCKS to use!

Be sure to pay attention to the number of Unique visitors, Number of visits and Hits.

Okay, now let’s get to the good stuff…Can you say chi ching!

How much moolah you get depends on what you sell. Some products pay out a commission of 30%-%75 to you per sale. So if you’re racking up about 25 sales per day, you will fire that boss in no time. And oh, I will reveal to you a secret tip later. Has to do with having your own product to sell. But we still need a strategy.

Internet marketing is relatively inexpensive when compared with the opportunity to make quadruple the amount of money you make on your day job. Letting your target market know about your product or service on the internet will get you sales and sales equals money. Now building a list while you do this is the creme de la creme. Internet marketing is still very much in its early development and people will always be finding new and improved ways to drive traffic to their website and build their lists. So capitalize on other people’s techniques to traffic building as well as creating your own. Lastly, make sure you create your own product in the future so you can get %100 profit from your sales. If you are not sure how to create one I have helpful tips on my site.

Remember, sky is the limit. So aim for the sky and even if you do miss, you would have caught some little girl’s balloon.

Author Zeze Mensah can help you with all your marketing needs. For List Building Advice grab his free report on Internet Marketing Tips

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